The EV automaker's revenue, however, rose approximately 5 percent in 2010 to $116.7 million. Revenues for the fourth quarter of 2010 were US$36.3 million, a 16% increase from the US$31.2 million reported in the prior quarter. Tesla added that gross margin improved to 26% for the full year 2010, up from 9% for 2009.
The company 's future plans include the launch of the Model S, which is scheduled to go on sale in the middle of next year. Scroll down to read Tesla CEO Elon Musk's statement.
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→Tesla Losses Soar to $154.3 million in 2010
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